LOUVAIN-LA-NEUVE, Belgium, Nov. 4, 2013 (GLOBE NEWSWIRE) -- IBA ( Ion Beam Applications S.A. ), the world's leading provider of proton therapy and radiopharmacy solutions, today announces it has signed a formal contract with Zevacor Molecular for the installation of its Cyclone ® 70 in the United States. This will be the first commercial 70 MeV Cyclotron dedicated to radiopharmaceuticals production in the country. The installation of the system is worth between $16 and 20 million to IBA. The project financing is fully secured. The Cyclone ® 70 Cyclotron is expected to be operational in the second half of 2016.
Olivier Legrain, Chief Executive Officer of IBA commented, "We are delighted to see Zevacor Molecular investing in our Cyclone ® 70 allowing to provide year round production of isotopes used in the diagnosis of cardiovascular diseases and other critical illnesses. Only IBA can provide the expertise and success with a 70 MeV high energy Cyclotron."
"IBA was selected for its technology and unique know-how in developing high energy 70 MeV Cyclotrons," said Zevacor Molecular Executive Vice President and Chief Operating Officer John Zehner. "We can rely on IBA's expertise to reach our objectives to supply the United States with medical isotopes for the diagnosis and treatment of critical illnesses by the end of 2016."Zevacor Molecular is an independently owned US healthcare firm that manufactures and distributes PET (Positron Emission Tomography) and SPECT (Single Photon Emission Computed Tomography) radiopharmaceuticals. Zevacor Molecular will introduce the first commercial medical 70 MeV Cyclotron in the United States in order to stabilize the domestic supply of medical isotopes needed to diagnose and treat critical illnesses. The IBA Cyclone ® 70 will have the ability to provide year round production of isotopes used mainly in the diagnosis of cardiovascular diseases. Although the project is focused on Strontium (Sr-82), which is the raw material for Rubidium (Rb-82) generators, it also opens up several research isotopes currently not widely available in the United States. More information about Zevacor Molecular on: http://www.zevacor.com/ Notes to Editors About Cyclone ® 70 The Cyclone ® 70 is a high energy and high-current proton industrial cyclotron. It is derived from the first Cyclone ® 70XP multiparticles cyclotron developed by IBA and fully operational for radioisotope production and research in France (Arronax project, Nantes) since 2011. For more info, please visit our website: http://www.iba-cyclotron-solutions.com/products-cyclo/cyclone-70 About IBA IBA (Ion Beam Applications S.A.) is a cancer diagnostics and treatment equipment company, and the worldwide technology leader in the field of proton therapy, the most advanced form of radiotherapy available today.